Charges and interest rates

We're committed to helping you get the most out of your account - which includes making you aware of the charges and rates of interest that apply to your account.

All charges and rates shown are correct as at 7 April 2014 and may change. The interest rates shown have been rounded to two decimal places.

Full copies of the fees and terms and conditions that apply to our personal accounts can be downloaded from our website terms and conditions.

Services you can receive without separate charge

As long as you stay in credit, you can receive the following services without any separate charge being made:

payments by debit card in the UK, cheque, Direct Debit or standing order;

sterling transactions using your debit card or ATM card in any NatWest, Isle of Man Bank, RBS International, Royal Bank of Scotland cash machines, or almost all other UK cash machines. There are some cash machines in the UK and abroad where the owner of the machine may charge a fee. You will be advised on the screen about any charges before you withdraw cash. You can then stop the transaction if you do not want to be charged;

account statements (but a charge is made for copies);

cheque books, paying-in books and statement holders;

telephone and online banking - apart from the cost of the phone call and any charges your Internet Service Provider may charge you for accessing the service;

use of our counter services. There may be additional fees if we have to make special arrangements or provide specialist services.

Gold account fees

The following monthly account fees are payable by Gold account customers. Membership includes access to all the benefits listed in the appropriate webpages, brochures and user guides. These also contain details of other fees and services.

Type of current account

Account fee

Gold Account

£15.00 per month will be payable from your Gold Account

Application of monthly account fees

The account fee for each monthly charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The fee will appear on your statement as CHG. Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

Changes to interest rates

From time to time we may alter the interest rates we charge on arranged overdrafts.

When we do this we will notify you personally not less than 30 days before the change comes into effect, unless your arranged overdraft interest rate is linked to an internal reference rate (for example, set at a margin over our base rate).

Interest we pay you

The annual rates of interest paid on credit balances;

Type of current account

Amount held in account

Gross Rate %

AER% (variable)

Gold Account

£5,000 +

0.25

0.25

£0 - £4,999

0.15

0.15

Select account

£0 +

0.00

0.00

Card Plus

£0 +

1.00

1.00

Updated: 7 April 2014

Calculation and application of interest

Interest is calculated on a daily basis and paid into the account once a month.

Interest due on arranged overdrafts

For Gold and Select Accounts

If you have arranged an overdraft facility with us in advance and you use this facility within the thresholds shown below, you will not pay any interest. If the amount you overdraw under an arranged overdraft facility exceeds these thresholds, you will pay interest at the rates shown in the tables below on the overdrawn balance - please note that this includes the part of the balance which is within any interest free threshold that applies to your account. However, we will not charge interest on any part of the overdrawn balance which is an unarranged overdraft or represents fees, charges or costs of the kind described below under the heading `Sums which do not bear interest`.

If you have arranged an overdraft facility with us in advance under which you pay interest at a rate other than the rates shown in the tables below, the interest free thresholds shown below will not apply to your account.

Interest free thresholds

Type of account

Interest free threshold

Gold Account

100

Select Account, Current account and Current Plus

10

Current rates

Type of account

Nominal monthly rate %

Nominal annual rate %

EAR % variable

Gold Account

All amounts

0.63%

7.5%

7.76%

Select Account Overdrafts

All amounts

1.52%

18.28%

19.89%

The rate you pay will change automatically as our Bank's base rate changes in line with interest rates generally.

Calculation and application of interest

Interest on arranged overdrafts is calculated on a daily basis and charged monthly.

The interest we charge in each charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday.

Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

If we are going to debit interest from your account, we will give you not less than 14 days notice of how much we are going to debit and when.

Sums which do not bear interest

We do not charge interest on unarranged overdrafts. Nor do we charge interest on any part of an arranged overdraft which represents:

a Unpaid transaction fee’ or Unarranged overdraft usage fee

Charges

Arranged Overdrafts, Unarranged Overdrafts and Returned Items

The charges shown in this section do not normally apply to the other accounts we offer to Personal Banking customers. However, we sometimes allow other accounts (including savings accounts) to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, the charges listed below under the heading Unarranged overdrafts and returned items - charges will apply.

If we are going to charge you an Unarranged overdraft usage fee and/or a Unpaid transaction fee, we will give you not less than 14 days notice of how much we are going to charge you and when.

Fee type

When charged

Fee amount

Arranged Overdraft Usage Fee*

An Arranged Overdraft Usage Fee will be charged where arranged overdrafts are used by more than £10.

21 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). Your charging period runs from month to month, usually from the date you opened your account.

For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

£6 per charging period where arranged overdrafts are used by more than £10.

Unarranged overdraft usage fee

An Unarranged overdraft usage fee will be charged for each day on which there is an unarranged overdraft of greater than 6 on your account at close of business on that day.

Please note: we will only charge an Unarranged overdraft usage fee for a non-business day (i.e. a Saturday, Sunday or Bank Holiday) if there is an unarranged overdraft of greater than 6 owing on your account at close of business on the first following business day

21 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

£6 for each day for which an Unarranged overdraft usage fee is payable.

Unpaid transaction fee

A Unpaid transaction fee will be charged if:

you informally request an unarranged overdraft by issuing instructions for a withdrawal or other payment; and

the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and

we decide in our discretion not to make the payment.

21 days after the end of the charging period in which we decide not to make the payment (or the next business day if this is a Saturday, Sunday or Bank Holiday). Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

£6 for each returned item (subject to a maximum of 60 in any charging period).

*Fee introduced from 21 August 2013

Making an informal request for an unarranged overdraft means you will normally have to pay a Unpaid transaction fee or an Unarranged overdraft usage fee.

Changes to charges

From time to time we may alter the charges set out on this page. If we increase a charge, we will notify you personally not less than 60 days before the change comes into effect.

Debit card and ATM card charges

The section below sets out our charges for the transaction types listed below. It does not reflect any charges which a third party might charge you (for example, commission rates or ATM fees).

Sterling cash withdrawals from any NatWest branch in the UK, Channel Islands, Isle of Man or Gibraltar

Sterling cash withdrawals in the UK, Channel Islands, Isle of Man or Gibraltar in any bank, travel agent, bureau de change or other outlet displaying the Visa logo

Purchase of foreign currency or travellers cheques in the UK, Channel Islands, Isle of Man or Gibraltar

No charge

Purchase of foreign currency or travellers cheques in the UK, Channel Islands, Isle of Man or Gibraltar

Cash withdrawals or the purchase of currency or travellers cheques outside the UK, Channel Islands, Isle of Man or Gibraltar

We will charge a Foreign Cash Fee of 2% of the value of the transaction (minimum £2, maximum £5). We will also charge a Non-Sterling Transaction Fee of 2.75% of the value of the transaction. If you elect for the transaction to be converted into Sterling at the point of sale or withdrawal, we will not charge a Non-Sterling Transaction Fee, however the transaction handler may charge you a separate fee.

Purchases made outside the UK, Channel Islands, Isle of Man or Gibraltar (for example, purchasing goods in a shop)

Purchases made anywhere in a foreign currency (for example, online/telephone purchases made in or outside the UK, Channel Islands, Isle of Man or Gibraltar)

We will charge a Foreign Purchase Fee of 2.75% of the value of the transaction (minimum £1).

ATM card charges

Transaction type

Charges

Sterling cash withdrawals from any NatWest branch in the UK, Channel Islands, Isle of Man or Gibraltar

Foreign currency withdrawal from any cash machine (ATM) in the UK, Channel Islands, Isle of Man or Gibraltar

We will charge a Foreign Cash Fee of 2% of the value of the transaction (minimum £2, maximum £5). We will also charge a Non-Sterling Transaction Fee of 2.75% of the value of the transaction. If you elect for the transaction to be converted into Sterling at the point of withdrawal we will not charge a Non-Sterling Transaction Fee, however the transaction handler may charge you a separate fee.

We will charge a Foreign Cash Fee of 2% of the value of the transaction (minimum £2, maximum £5). We will also charge a Non-Sterling Transaction Fee of 2.75% of the value of the transaction. If you elect for the transaction to be converted into Sterling at the point of withdrawal we will not charge a Non-Sterling Transaction Fee, however the transaction handler may charge you a separate fee.

Where a charge in the tables above is stated as a percentage, this is a percentage of the Sterling transaction amount.

Visa Payment Scheme Exchange Rate

Any transaction made in a foreign currency using your debit card or ATM card is converted by us into Sterling using the Visa Payment Scheme Exchange Rate. To see the up-to-date rates used for debit cards and ATM cards visit www.visaeurope.com and click on the Cardholders section.